MDEC distributes RM14m to 70 SMEs and start-ups

By S BIRRUNTHA / Pic source blog.mdec.my

THE Malaysia Digital Economy Corp (MDEC) has approved another RM10.5 million worth of grants which will benefit 50 small and medium enterprises (SMEs) and start-ups.

Its chairman Datuk Wira Dr Rais Hussin Mohamed Ariff (picture) said MDEC is also in the middle of disbursing RM3.5 million worth of grant claims to 20 recipients, mainly from the digital creative content industry.

He said the grant allocation is part of MDEC’s initiatives under the Digital Content Grant (DCG) and Smart Automation Grant (SAG) designed to encourage local SMEs and start-ups to embrace new digital technologies and services, which will increase their business productivity and sustainability.

“Through these grant initiatives, we will do our utmost, not only to help SMEs and start-ups sustain their businesses, but also to ensure that they are equipped with the right tools, platforms and skills required to innovate and scale their businesses to greater heights.

“These grants are a testament to our steadfast commitment to not leave anyone behind, in line with our Shared Prosperity Vision 2030 and Malaysia 5.0,” he said in a statement last Friday.

MDEC CEO Surina Shukri said apart from empowering technology adoption among local businesses, the funding initiative is also part of MDEC’s digital skills and jobs, digital businesses and digital investments framework pillars.

She said the agency continues to set the foundation for SMEs and mid-tier companies to thrive in IR4.0 era by supporting businesses at every level and in all sectors, including financial technology and health technology.

“We will remain cognisant of the industry needs and work tirelessly to enhance our capabilities, capacities and facilities towards achieving a technologically integrated society in line with the Malaysia Digital Economy Blueprint.

“I am confident that with this grant boost, Malaysian SMEs and start-ups can continue to gather momentum and forge ahead in these unusual times,” she said.

To better cater to the development of the digital economy, MDEC has also implemented its “Reinvent” mission for grant management processes to ensure improved grant disbursement processes, including the digitalisation of grant management and administration to attain greater transparency and governance.

The agency said it will continue to evaluate and will announce more successful grant recipients in due course.

MDEC will be disbursing the approved grants in batches to the respective recipients based on proof of milestones and key performance indicators achieved under the SAG and DCG initiatives.

Businesses of all sizes are also encouraged to reach out and engage various support initiatives that MDEC currently manages. This includes the different grants that are currently made available for different industry verticals.